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Decentralized finance (DeFi) has experienced a surge in popularity over the past few years. With its promise of financial freedom, many people have looked to DeFi as a way to move away from traditional banking systems. But, as with anything new, there can be some challenges associated with DeFi; one of those being the lack of transparency when it comes to verifying the amount of funds held in reserve by a given project. Thankfully, Cake DeFi has now launched Verified Proof of Reserves—a feature that allows individuals and institutions to easily view the total amount of funds held in reserve by any given project. In this article, we’ll take a look at what this new feature is all about and how it can help bring greater transparency and trust to such projects. What is Cake DeFi? With the advancement of the internet, it was inevitable that a new facet of finance would appear. After all, the internet has affected every other sector, from fashion stores like H&M and Zara to iG

Ordinals, a new way of using and getting content using Bitcoin, are enabling creators to harness the utility of NFTs (non-fungible tokens) directly from the blockchain, essentially creating native Bitcoin NFTs. This has stirred the pot in some circles, which are now discussing if this is the way in which Bitcoin’s blockchain should be used, and how this new use case will affect bitcoin nodes and fees in the future. Ordinals Enable Bitcoin NFTs Courtesy of Taproot A newfound use case for the Bitcoin chain is now being tested by individuals that have found a way of getting content directly to the blockchain. The project, called Ordinals, and launched just a few days ago, has enabled anyone to create Bitcoin NFTs (called inscriptions) as part of its functionality. This opportunity was inadvertently opened by the Taproot upgrade that the network underwent in November, which extended the length of Bitcoin transactions to almost the whole size of a block. This has been key for what’s curr

Get the weekly summary of crypto market Analysis , news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,071 trillion. Bitcoin is up by over 3% after a successful week. Ethereum decreased by almost 2% over the past seven days. XRP gained nearly 2% in value this week. Almost all altcoins are trading in the green, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around $46 billion. Crypto Trends 23-29 January 2023: Market Analysis and Performance The crypto market is back to its bullish habits. Most assets are trading gleefully in the green for the third consecutive week, to the traders’ joy. Meanwhile, the market capitalization consolidated its position above the $1 trillion mark following a $23 billion increase. Bitcoin has put those dark fears of devaluation behind it with another significant milestone this week. The king crypto continues to soar and cement its position

According to court documents in the FTX bankruptcy case, the company’s attorneys seek to subpoena FTX co-founder Sam Bankman-Fried, his brother Gabriel Bankman-Fried, and his parents, Joseph Bankman and Barbara Fried. Additionally, the attorneys intend to question some of Bankman-Fried’s top deputies, including FTX co-founder Gary Wang, ex-Alameda Research CEO Caroline Ellison, the former chief operating officer Constance Wang, and the exchange’s former director of engineering Nishad Singh. FTX Attorneys Push for Subpoena of Co-Founder, Associates, Parents, and Brother Lawyers for FTX Trading Ltd. and the bankruptcy case‘s official creditors committee filed a motion that aims to question Sam Bankman-Fried (SBF), his parents, his brother, and a few of the former CEO’s top lieutenants. The lawyers contend that specific insiders associated with Bankman-Fried’s dealings could provide much-needed insight into financial matters. “Certain insiders are currently cooperating with the debtors

Join Our Telegram channel to stay up to date on breaking news coverage MATIC price is the biggest gainer among the top ten cryptos while Bitcoin and Ethereum lead the rest in giving up some of the gains accrued in January. Nevertheless, the two most popular cryptocurrencies are still trading significantly higher compared to levels traded in December. Polygon (MATIC) price is up 8.5% ahead of the weekend and trading at $1.080. Immense trading volume continues to come with, with CoinMarketCap showing a 148% increase in 24 hours to $1.1 billion. MATIC/USD price chart MATIC’s capitalization has also moved an inch higher to $9.4 billion and now the token holds in the 10th position. Polygon’s rally can be attributed to partnership news touching on nonfungible tokens (NFTs) and blockchain development. Polygon Partnership News Roundup as MATIC Price Steadies Uptrend Mastercard, one of the leading payments providers globally, has announced plans to launch a spotlight program that wi

A handful of cryptocurrency industry players who took part in workshops at the World Economic Forum Annual Meeting paint a picture of increased collaboration within the space in 2023. Key figures from the wider cryptocurrency space painted a picture of increased dialogue and collaboration at the World Economic Forum Annual Meeting in Davos. Cryptocurrencies and blockchain technology remained but a small part of the projects and initiatives discussed and workshopped at the annual WEF conference high in the Swiss Alps. However, an increased number of sessions focused on the sector suggests that the wider world is looking for synergies between traditional finance and decentralized finance. This theme emerged from a number of interviews conducted by Cointelegraph during January’s conference in Davos. Senior executives from XRP issuer Ripple and USD Coin (USDC) stablecoin firm Circle highlighted the importance of embracing solutions and systems that are creating tangible utility and value

Robert Francis “Beto” O’Rourke, an American politician, received $1 million in contributions for his campaign from FTX ’s Sam Bankman-Fried . SBF was notably a generous donor, especially to the Democrats. He gave over $40 million to them in 2022. He has also contributed $300,000 to the House Financial Services Committee’s Democratic members. When FTX fell in November, many lawmakers and committees pledged to return the donations by SBF. Beto O’Rourke also claimed to have returned a $1 million campaign contribution before the collapse of the exchange in November. Read more: Binance Rolls Out Crypto to Fiat Feature in 7 Countries However, campaign records reveal that O’Rourke is still holding on to $100,000 from that donation, according to a report from The Washington Free Beacon. Source: Houston Chronicle Beto O’Rourke holding onto $100,000 raises questions Earlier details revealed that the $1 million refund was issued on Nov. 4 to avoid the ethical headache in connection

Source: AdobeStock / phonlamaiphoto Digital asset infrastructure firm Blockstream has secured $125 million in funding aimed at expanding its bitcoin mining facilities.  Blockstream has received the funding in convertible note and secured loan financing, the company announced in a Tuesday press release, adding that it plans to use the money to expand its mining facilities amid increasing demand for large-scale hosting services. The statement read: "Building on strong year-on-year revenue growth for 2022, Blockstream will use the new capital raised, including its first debt financing, to expand mining facilities in order to meet the strong demand for its institutional hosting services." The crypto infrastructure company said demand for its hosting services remains high due to Blockstream’s "strong track record and substantial scale, coupled with an industry-wide shortage of available power capacity."  Previously, Blockstream raised $210 million in

European law enforcement authorities have detained four more members of the executive team of crypto exchange Bitzlato, Europol announced. According to the police agency, nearly half of the funds processed through the platform were associated with various criminal activities. Bitzlato Senior Management Targeted in Europe, Exchange Infrastructure Dismantled High-ranking executives of the recently busted Bitzlato have been apprehended as part of the international investigation against the crypto exchange with the participation of law enforcement and judicial authorities in several European countries. According to a press release published by the European Union Agency for Law Enforcement Cooperation (Europol) on Monday, the operation led by the U.S. and France, also involved Belgium, Cyprus, Portugal, Spain, and the Netherlands. The Hong Kong-registered coin trading platform is suspected of facilitating the laundering of large amounts of criminal proceeds, the agency emphasized. Last

Crypto adoption achieved new milestones in 2022, with the number of crypto owners reaching 425 million during the year, a new report by Crypto.com shows. Moreover, the report reveals that the number of bitcoin owners reached 219 million in December while the number of ether owners reached 87 million. Cryptocurrency Adoption Achieves New Milestones Crypto.com published a report titled “Crypto Market Sizing” for the year 2022 last week. The company explained that its Analysis is built on a combination of Bitcoin and Ethereum on-chain data, survey Analysis , and its own internal data. Regarding the total number of global crypto owners, the firm’s Research and Insights team wrote that “in spite of macro headwinds,” namely high inflation, the conflict in Europe, supply chain disruptions, and lingering effects of the Covid-19 pandemic: Crypto adoption in 2022 achieved new milestones, with the number of crypto owners reaching 425 million (December 2022). The overall number of crypto own

Dogecoin price has been experiencing a lot of volatility in the last week, first rising to $0.0928 and dipping to $0.0786 before lifting again to trade highs around $0.0936. Bulls seem very aggressive and are searching for the next escape to $1.00. However, Dogecoin price is still trading below $0.1, and the next few days could determine the direction it takes. Dogecoin Price Approaches Major Inflection Point After a stunning rally, Dogecoin price is holding very close to $0.1 – a level that could determine if DOGE is going to $1 or may consolidate a little longer, as investors book early gains. The most popular meme coin holds above all the applied major moving averages, starting with the 50-day Exponential Moving Average (EMA) (in red) and forming a confluence support with the 100-day EMA (in blue) around $0.0811. DOGE/USD daily chart Dogecoin price also sits above the 200-day EMA (in purple) and holds the ground at $0.0847. Support is also provided by two rising

Closing out the third week of January 2023, non-fungible token (NFT) assets saw a 16.39% increase in overall sales. 320,580 buyers participated in the NFT market action this past week, an increase of 43.48% compared to the week prior. $256.69 million in NFT sales were recorded over the last seven days, with $206.06 million being Ethereum-based NFTs. Ethereum Dominates NFT Market as Blockchains Theta, Fantom, Palm, and Wax See Largest Gains in NFT Sales Digital ownership continues in 2023 with $256.69 million in non-fungible token (NFT) sales over the last seven days, according to statistics from cryptoslam.io. This represents a 16.39% increase from the previous week’s NFT sales and includes 1,355,376 NFT transactions. A total of 320,580 buyers participated in the market activity, a 43.48% increase from the prior week. NFT sales volume increased by more than 16% higher than the week before. Out of 20 unique blockchain networks, Ethereum (ETH) dominated, with $206.06 million of the p

This article is a summary of OKX Space, with excerpts from the editor. DCG has invested in the following major businesses: 1. Grayscale, the world’s largest bitcoin fund and the institution holding the most bitcoins. 2, Genesis, it is the world’s largest crypto lending service, its main business is also lending, but its lending is not our traditional sense of bank borrowing or credit card borrowing, its mainly through the complex collateral to provide users with token lending services. 3. Foundry, the world’s largest bitcoin mining pool. 4. CoinDesk, the world’s largest cryptocurrency media. This shows that DCG is indeed one of the largest cryptocurrency groups in the world. Back to why Genesis is in such big trouble, the logic is also very simple, the root cause is because it lent too much money to Three Arrows Capital and it has been having some unclear connections with Three Arrows Capital . Genesis lent a whopping $2.36 billion to Three Arrows Capital, with losses reaching $1.2 bil